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The newly founded Japan Mega Solar Power, formed by Japanese home renovator West Holdings in June, has announced plans to invest US$1.3 billion for the development of 250 solar PV plants over five years in Japan. The plants will have a combined 500MW capacity and are being built with a goal of taking advantage of the higher tariffs the country is offering for renewable energy.
In a phone interview with Bloomberg, Toshihisa Nagashima, senior managing director for the company noted that it “will give priority to JA Solar and LS Industrial Systems” for solar panels that will be used at the plants. JA Solar and LS Industrial are two of 12 investors in the new solar company.
